Dai (DAI) is a decentralized cryptocurrency. Thanks to external market mechanisms, it has a stable value relative to the value of the US dollar. Every Dai is worth one dollar and will always be so, regardless of the quantity of Dai that exists. The Dai st ablecoin system is created at the end of 2017 by the company Marker and provides a great alternative to the centralized authority - Tether. Using smart contracts, Dai operates entirely within the Ethereum blockchain.

The Dai coin is price-stable and is suitable for payments and savings. It can be freely traded just like all ERC20 tokens, and anyone with an Ethereum wallet can own and manage it. It can be exchanged without an intermediary and is not controlled by an in dividual or a group; therefore it can't be shut down. The main differences between Tether and Dai are that fiat US dollars back Tether, while Dai is backed by overcollateralized smart contracts on the Ethereum blockchain and is issued there. Tether is issu ed on the Bitcoin blockchain through the Omni Layer protocol.

Dai provides an excellent solution for users who don't want to worry about spending an asset that consistently goes up in value and to put themselves at the constant risk of volatility with the b lockchain technology. It also provides an excellent service for broad markets, such as the gambling and financial markets, the transparent accounting systems, and in international trade.

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